CAVA Group, Inc. (NYSE:CAVA) Receives $81.83 Consensus Price Target from Analysts

CAVA Group, Inc. (NYSE:CAVA) has been given a consensus recommendation of “Moderate Buy” by the twenty-five research firms that are covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $81.5652.

Several research analysts have recently weighed in on CAVA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, October 8th. Citigroup reaffirmed a “neutral” rating on shares of CAVA Group in a research report on Wednesday, November 12th. Johnson Rice set a $72.00 target price on shares of CAVA Group in a research note on Monday, January 5th. Argus lowered their target price on CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Finally, Barclays lifted their price target on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $66.12 on Tuesday. CAVA Group has a 1 year low of $43.41 and a 1 year high of $144.49. The business has a 50-day moving average of $57.71 and a two-hundred day moving average of $65.53. The company has a market capitalization of $7.67 billion, a P/E ratio of 57.00, a price-to-earnings-growth ratio of 3.44 and a beta of 2.41.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business had revenue of $292.24 million for the quarter, compared to the consensus estimate of $292.88 million. During the same quarter last year, the firm earned $0.15 EPS. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, equities analysts anticipate that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Kenneth Robert Bertram sold 3,788 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total value of $192,051.60. Following the sale, the insider owned 51,143 shares in the company, valued at approximately $2,592,950.10. The trade was a 6.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently made changes to their positions in the business. Bison Wealth LLC bought a new stake in shares of CAVA Group in the fourth quarter worth $208,000. Goldman Sachs Group Inc. increased its stake in CAVA Group by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock valued at $52,432,000 after buying an additional 75,828 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in CAVA Group by 17.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after buying an additional 34,860 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in CAVA Group by 0.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 59,552 shares of the company’s stock worth $5,152,000 after buying an additional 264 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in shares of CAVA Group by 106.9% during the 2nd quarter. Diversified Trust Co now owns 7,742 shares of the company’s stock worth $652,000 after buying an additional 4,000 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.